Marketing Plan For Karol Mazul

Submitted By xianleaves
Words: 4902
Pages: 20
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VICEROYAL
Marketing Plan

Authors:
Karol Mazur (42432508)
Tara Seabrook (40960034)
Ashley Swift (42442945)
Yuhong Zhu (42274061)
CONTENTS:

Executive Summary .................................................................................. p.
Situational Analysis .................................................................................. p.
Target Market Selection and Positioning Strategy ..................................... p.
Objectives ............................................................................................. p.
Marketing Mix Strategies ...................................................................... p.
Action Plan ............................................................................................. p.
Marketing Budget ................................................................................. p.
Controls and Contingencies ...................................................................... p.
References ............................................................................................. p.
Appendices ............................................................................................. p.

EXECUTIVE SUMMARY:
Viceroyal has the potential to successfully enter the niche environmentally friendly segment of the market for kitchen and bathroom fixtures. Viceroyal would be the only business in the sector purely dedicated to providing Australian made, environmentally friendly products and would therefore primarily be targeting those customers that have an interest in environmental or social responsibility. The market for environmentally friendly, water saving and energy efficient products is steadily growing in Australia. There are incentives for people to adopt a “greener” lifestyle and Viceroyal has potential to successfully establish itself in this emerging market.
Key Financial Objectives: * To achieve sales of $1,500,000 * To earn a pre-tax profit of $53,500.

Key Marketing Objectives over the first 12 months of operation: * To achieve 15% brand awareness within the target segment. * To achieve 5% market share in the overall kitchen/bathroom sector in Brisbane. * To have a sustainable loyalty program with 1000 members (including a minimum of 400 exclusive members). * To have solid customer service by aiming to have a 90% customer satisfaction rate.
Marketing strategy:
Viceroyal has the potential to differentiate itself from established competitors by positioning itself as being solely dedicated to providing quality Australian made water-saving and energy efficient products. Through successful differentiation and promotion Viceroyal can be established as the “place to go to that specialises in providing good quality environmentally friendly products”.

SITUATIONAL ANALYSIS:
PRODUCT CONCEPT:
Viceroyal is purely dedicated to providing quality, environmentally friendly and Australian made products for the bathroom and kitchen. The products will offer the latest in energy and water efficiency without sacrificing performance or durability. The product range will therefore be aimed at customers who are willing to pay a moderate to high price to get quality, efficiency and performance.
MARKET ANALYSIS:
Market Situation:
The overall market for kitchen and bathroom fixtures and fittings is a mature market. It has low to moderate attractiveness for a new business in terms of buyer power, supplier power, existing competitors and threats of substitutes and new entrants. Viceroyal will need to successfully differentiate its product and effectively segment the market to gain market share and compete against well-established competitors. Refer to Appendix 1 which analyses the effects of Porter’s Five Forces on the market.
Viceroyal’s overall market is made up of people and businesses that are building or renovating bathrooms and kitchens. The market for kitchen and bathroom fixtures is expected to grow in line
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